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Mastercard is seeking innovative agribusiness startups in Africa for its Agribusiness Challenge Fund. The Agribusiness Challenge Fund is a rolling call for proposals open from 18 March 2024 to 22 November 2024, with three application harvest periods in between.
The challenge is open to SME applications from any country if the projects meet the eligibility criteria and are being implemented in at least one of the 20 focus countries the Fund is targeting. This fund provides grants of up to $2.5 million to support businesses that are creating jobs and promoting sustainable agriculture.
Eligibility criteria includes:
Sector Focus: SMEs must be engaged in the agriculture sector.
Business Status: Only for-profit Small or Medium-sized Enterprises are eligible.
Geographical Implementation: The business must be operational in at least one of the 20 focus countries in Africa.
Funding Request: Applicants should seek grant funding between US$ 500,000 and US$ 2,500,000, to be disbursed over three years.
Matching Contribution: A matching contribution of at least 30% of the total project cost is required.
Social Impact: The business must be innovative, practical, and scalable, with a focus on creating work opportunities for young women and men, including those with disabilities or refugee youth.
Compliance: Adherence to human rights, labor standards, and environmental laws is mandatory.
Selected startups will receive:
If you’re interested in participating in the Agribusiness Challenge Fund, submit your applications by clicking here.